All projects require a statement of work with a research plan and deliverables. In addition to an export controls review prior to project approval, BICI works with PIs and U-M Export Controls office to ensure compliance with U.S. laws and regulations if the research plan includes shipping equipment to China.
PIs submit one interim and one final report — generally at six-month intervals — and support corresponding conference calls or meetings to review them. After the project is complete, BICI and the PI decide if they want to (1) renew the project for another period up to one year, (2) continue with a larger Regular project and commercialization activities, or (3) discontinue collaboration on the research. PIs submit a new proposal for either of the first two options.
BICI works closely with PIs to develop and implement the research plan. PIs submit monthly progress reports and support corresponding conference calls or meetings to review them. As the expectation is typically the creation of a start-up company or licensing to a third party, collaboration is ongoing. Larger status updates to BICI may be requested annually. Once a start-up is formed and funded or the technology is licensed, BICI will use profits or gains to re-seed its investment fund to invest in new projects.